1. You expect to receive $28,000 at graduation in two years. You plan on investing it at 9.75 percent until you have $163,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Period ________ years
2. An investment offers to quadruple your money in 36 months (don’t believe it). What rate per year are you being offered? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Rate _________ %